Standard Rent.

(1) Standard Rent, in relation to any building, means the rent calculated on the basis of live per cent per annum of the aggregate amount of the cost of construction and the market price ol the land comprised in the building in the year of construction. Provided that due allowance shall be made on the cost of construction and price ol land based on the cost index as per provisions of Section 45 of lncome Tax Act, 1961 (43 of 1961). Provide however, that the rent shall always be fixed on monthly basis. (2) For the purpose of this section - (a) the cost of construction shall be the actual amount spent on construction, and in case such amount cannot be ascertained, such cost shall be determined as per the standard scheduled rates of the Road Construction Department and Buildings Co nstructio n Department ol the State Government with reference to cost of similar construction for the year in which the building was constructed. (b) The market price of the land shall be the price for which the land was bought as gathered from the registered sale deed or the market value of the land notified by the Registration Departmenu Deputy Commissioner/ Land i/anagement Department ol the Government lor the year in which construction was made, whichever is high. (c) The land shall be the total land comprising the building and such of the vacant land up to lifty per cent of the plinth area as is appurtenant thereto. (d) Notwithstanding anything contained in clause (a), (b) and (c) the cost of construction and the market price of the land comprised in the building purchased from or allotted by the Government ot Arunachal Pradesh or a Nagar Panchayat, l\,4 u n icipality or lvlunicipal corporation shall be the aggregate amount paid or payable to the Government of Arunachal Pradesh or a Nagar Panchayat, a Municipality or [4unicipal corporation, as the case may be :